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Malawi creates first Islamic pension fund

Posted on 03 October 2011

Malawi’s Vanguard Life Assurance, part of Zimbabwe’s ZimRe Holdings, is set to introduce what they say will be Malawi’s first Shari’ah compliant pension fund. VLA’s Mudaraba Equishare Fund has been created as a result of the Malawi Pensions Act, introduced in June this year that has made the universal holding of a pension fund mandatory.
The fund will invest in conventional investment vehicles that do not compromise Shari’ah stipulations. ………………………………………Full Article: Source

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